Tuesday, June 3, 2008

Gas Pains: A Perfect Storm?

Think gas prices are too high already? Friday morning CNBC reported on the likely impact of even the threat of a hurricane strike on energy prices (additional report, including a tour of Shell's real-time operations center here). After two seasons of few storm landfalls on the U.S. coast, traders have apparently not factored in the effect of possible disruption to oil supplies and refining operations from storm activity in the Gulf of Mexico.